Word: icahn
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...advice. There?s been disclosures of $2,000 gift cards for directors and one sweetheart deal where a company spent millions leasing aircraft from its CEO?s privately owned firm. And as part of his effort to shake up management at Time Warner (parent company of Time.com), investor Carl Icahn has been railing of late against what he calls excessive perks at the media giant, most notably the five corporate planes used by top executives for both business and personal travel. A Time Warner spokesman notes that after the expected sale of one plane the fleet will have been...
Dissident shareholder Carl C. Icahn retained Lazard on Nov. 29, 2005 as part of his battle to split up the media conglomerate, which was formed by a merger of America Online and Time Warner in January...
...There was no conflict of interest here,” Clark said. “Lazard has annual revenues of about $1.5 billion—when you consider that the income [from Icahn] was $5 million, and maybe a bonus if the [Time Warner] stock price was raised, this issue would never have made it to the board of directors...
...Icahn and his allies, who control nearly 135 million shares—or roughly 3 percent—of Time Warner stock, have announced plans to run eight candidates of their own for the Time Warner board of directors. Icahn has been pressuring the board since August 2005 to take measures to increase the company’s stock price, which has plummeted 70 percent from a high of about $60 since Time Warner merged with America Online in January...
Because the Time Warner board has thirteen directors elected through a plurality voting system, Icahn would have to identify eight current directors whom he wants his allies to vote against. When asked if Clark was one of his targets, Icahn initially said that all the directors were at fault for Time Warner’s performance, but later backtracked and pointed out that Clark was not a member of the board that approved what he deemed the disastrous merger between Time Warner and America Online...